{"id":48204,"date":"2021-08-24T14:06:43","date_gmt":"2021-08-24T11:06:43","guid":{"rendered":"https:\/\/forklog.com\/en\/?p=48204"},"modified":"2025-09-02T01:06:48","modified_gmt":"2025-09-01T22:06:48","slug":"charles-hoskinson-criticises-the-industrys-popular-approach-to-product-development","status":"publish","type":"post","link":"https:\/\/u1f987.com\/en\/charles-hoskinson-criticises-the-industrys-popular-approach-to-product-development\/","title":{"rendered":"Charles Hoskinson criticises the industry\u2019s popular approach to product development"},"content":{"rendered":"<p>Many projects in the digital asset industry have suffered from a focus on a \u201cfirst-to-market\u201d strategy, and Cardano (ADA) does not want to repeat their errors. IOHK chief Charles Hoskinson said this in a video blog.<\/p>\n<figure class=\\\"wp-block-embed is-type-video is-provider-youtube wp-block-embed-youtube wp-embed-aspect-16-9 wp-has-aspect-ratio\\\">\n<div class=\\\"wp-block-embed__wrapper\\\">\n<iframe loading=\\\"lazy\\\" title=\\\"Saturday Night Thoughts\\\" width=\\\"500\\\" height=\\\"281\\\" src=\\\"https:\/\/www.youtube.com\/embed\/bUHFEmcyEE8?feature=oembed\\\" frameborder=\\\"0\\\" allow=\\\"accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture; web-share\\\" referrerpolicy=\\\"strict-origin-when-cross-origin\\\" allowfullscreen><\/iframe>\n<\/div>\n<\/figure>\n<p>ADA price began rising after <a href=\"https:\/\/u1f987.com\/en\/news\/cardano-price-jumps-18-after-smart-contract-launch-announcement\">announcement of the launch of smart contracts<\/a> as part of the upcoming Alonzo update. On August 23 the cryptocurrency <a href=\"https:\/\/u1f987.com\/en\/news\/cardano-price-breaks-above-2-9-to-a-new-high\">hit a new high<\/a> above $2.9. Over the last 14 days it rose 39%, according to <a href=\\\"https:\/\/www.coingecko.com\/en\/coins\/cardano\\\">CoinGecko<\/a>.<\/p>\n<p>As of writing, the asset was trading near $2.9.<\/p>\n<figure class=\\\"wp-block-image size-large\\\"><img loading=\\\"lazy\\\" decoding=\\\"async\\\" width=\\\"1024\\\" height=\\\"490\\\" src=\\\"https:\/\/u1f987.com\/wp-content\/uploads\/ADAUSDT_2021-08-24_13-02-05-1024x490.png\\\" alt=\\\"Charles Hoskinson criticises the industry\u2019s popular approach to product development\\\" class=\\\"wp-image-146653\\\" srcset=\\\"https:\/\/u1f987.com\/wp-content\/uploads\/ADAUSDT_2021-08-24_13-02-05-1024x490.png 1024w, https:\/\/u1f987.com\/wp-content\/uploads\/ADAUSDT_2021-08-24_13-02-05-300x144.png 300w, https:\/\/u1f987.com\/wp-content\/uploads\/ADAUSDT_2021-08-24_13-02-05-768x368.png 768w, https:\/\/u1f987.com\/wp-content\/uploads\/ADAUSDT_2021-08-24_13-02-05-1536x735.png 1536w, https:\/\/u1f987.com\/wp-content\/uploads\/ADAUSDT_2021-08-24_13-02-05.png 1834w\\\" sizes=\\\"auto, (max-width: 1024px) 100vw, 1024px\\\" \/><figcaption>ADA\/USDT price chart on Binance. Data: <a href=\\\"https:\/\/ru.tradingview.com\/symbols\/ADAUSDT\/?exchange=BINANCE\\\">TradingView<\/a>.<\/figcaption><\/figure>\n<p>The project team said that, barring any security issues with Alonzo, they would activate on September 12, <a href=\"https:\/\/u1f987.com\/en\/news\/cardano-becomes-the-third-largest-cryptocurrency-by-market-capitalization-2\">as previously planned<\/a>. However IOHK has had to push back several development milestones, drawing criticism from some community members.<\/p>\n<blockquote class=\\\"twitter-tweet\\\">\n<p lang=\\\"en\\\" dir=\\\"ltr\\\">Cardano is the ultimate scam on college educated corporate professional. <\/p>\n<p>Roadmaps, white papers, research, marketing, branding, etc.<\/p>\n<p>When you start speaking their language, it gives them a high. <\/p>\n<p>They think they\u2019ve secretly stumbled upon the next world changing tech.<\/p>\n<p>\u2014 Zach Pompliano (@Ecks_93) <a href=\\\"https:\/\/twitter.com\/Ecks_93\/status\/1429618380856758279?ref_src=twsrc%5Etfw\\\">August 23, 2021<\/a><\/p><\/blockquote>\n<p> <script async=\\\"\\\" src=\\\"https:\/\/platform.twitter.com\/widgets.js\\\" charset=\\\"utf-8\\\"><\/script><\/p>\n<p>According to Hoskinson, many developers neglect the importance of the painstaking process of expert review to identify bugs and issues. They try to bring a product to market as quickly as possible, which can have serious consequences.<\/p>\n<p>The head of IOHK defended the Cardano development team, who adhere to the principle of \u201cacademic rigour\u201d, which makes product development slower.<\/p>\n<blockquote class=\\\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\\\">\n<p>\u00abThis approach should not be controversial. We all agree that it is probably a good idea, given the complexity of the core protocol\u00bb, \u2014 said Hoskinson.<\/p>\n<\/blockquote>\n<p>The head of IOHK added that the <a href=\"https:\/\/u1f987.com\/en\/news\/hackers-stole-611-million-from-the-poly-network-cross-chain-protocol\">Poly Network incident<\/a> clearly illustrates why commitment to the first-to-market strategy is not the best solution.<\/p>\n<p>Critics often say that a blockchain based on the <a href=\"https:\/\/u1f987.com\/en\/news\/proof-of-stake-how-it-works-and-why-it-is-so-popular\">Proof-of-Stake<\/a> algorithm will struggle to win market share due to the popularity of competing projects. However Hoskinson considers this view erroneous, as the industry is small and competition is intense.<\/p>\n<blockquote class=\\\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\\\">\n<p>\u00abThey say they are the dominant platform. Yes, you are the dominant platform. But it is still like saying you are the biggest fish in a very small pond, located next to the ocean. No one has yet won. We are fighting in a very small body of water\u00bb, \u2014 he said.<\/p>\n<\/blockquote>\n<p>Hoskinson also expressed dissatisfaction with the dominance of meme cryptocurrencies and the mania for non-fungible tokens. In his view, the community should overcome these \u201cfads\u201d.<\/p>\n<p>Earlier, the head of IOHK urged abandoning the Proof-of-Work algorithm and predicted the collapse of Dogecoin.<\/p>\n<p>As Hoskinson has noted, <a href=\"https:\/\/u1f987.com\/en\/news\/charles-hoskinson-bitcoin-will-lose-to-ethereum-in-the-competitive-race\">Bitcoin will lose the competitive battle to Ethereum<\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Many projects in the digital asset industry have suffered from a focus on a first-to-market strategy, and Cardano does not want to repeat their errors. IOHK chief Charles Hoskinson said this in a video blog.<\/p>\n","protected":false},"author":1,"featured_media":48205,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"1","news_style_id":"1","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[1401,471],"class_list":["post-48204","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-cardano-ada","tag-charles-hoskinson"],"aioseo_notices":[],"amp_enabled":true,"views":"35","promo_type":"1","layout_type":"1","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/48204","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/comments?post=48204"}],"version-history":[{"count":1,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/48204\/revisions"}],"predecessor-version":[{"id":48206,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/48204\/revisions\/48206"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media\/48205"}],"wp:attachment":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media?parent=48204"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/categories?post=48204"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/tags?post=48204"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}